Have some idle funds lying around? Venus can be an option to earn interest on them or use them as collateral to borrow against to participate in yield farming. It’s a decentralized money market where you can borrow and lend BEP-20 tokens with algorithmically set interest rates. Venus is a borrow-lending protocol similar to Compound or Aave on Ethereum. If you’re interested, check out our detailed guide about PancakeSwap. You can also take part in the lottery, win NFTs, participate in token sales, compete for spots on the leaderboard, and more! While the AMM is at the core of PancakeSwap, there’s much more you can do.
Just be aware of impermanent loss before depositing. You can also earn passive income by providing liquidity to one (or more) of the liquidity pools. Similar to Uniswap or SushiSwap, you can do token swaps for BEP-20 tokens on PancakeSwap. PancakeSwap is the number one automated market maker (AMM) on BNB Smart Chain. You can track them on DefiStation, DappRadar, or the Math dApp Store. New and exciting dApps are getting launched all the time. What can we do with our magic internet money? Let’s take a look at some of the most popular decentralized applications on BSC.Īnd don’t forget that these are just a few of the biggest ones. So, now we’ve got a wallet, and we’ve transferred some funds to it. If this seems like your preferred way of getting assets to BSC, check out our guide to Binance Bridge. You can monitor the on-chain reserve that ensures that the wrapped tokens on BSC are sufficiently collateralized by the native tokens here: Proof of Assets. You can select many of the biggest blockchains, such as Ethereum or TRON, and convert their native tokens to wrapped tokens on BSC.
Just make sure to select BNB Smart Chain (BEP-20) when withdrawing funds to your external wallet.Īnother great way to bring assets to BSC is using the Binance Bridge. The easiest option may be to simply withdraw from your Binance account to a BSC wallet. If you’d like to trade on Binance DEX, you’ll need to use BEP-2 tokens, while if you’d like to use dApps on BSC, you’ll need BEP-20 tokens.Ĭhances are if you’re reading this, you already have a Binance account.
So, now we have plenty of wallets to choose from, but how can we move funds to the chain? We can withdraw from our Binance account or use the Binance Bridge.īefore we go further, however, it’s important that we clear up some conceptual background.īNB Smart Chain supports the BEP-20 token standard, while Binance Chain, the home of Binance DEX, supports the BEP-2 token standard. How to get crypto to BNB Smart Chain (BSC) You can get it as a browser extension for Chrome, Firefox, and Brave. Trust Wallet is one of the easiest mobile wallets to use, so if you’d like to use BSC from your pocket, it’s among the best options.īinance Chain Wallet is another option that you have for certain apps on BSC. Some dApps, such as PancakeSwap, allow you to connect using Trust Wallet. This way, you can use a familiar UI when interacting with BSC.Īs to how to connect your MetaMask to BSC? We’ve got a detailed guide about it, so check out Connecting MetaMask to BNB Smart Chain if you’re interested. īut wait, isn’t MetaMask an Ethereum wallet? It is, but actually, it’s quite easy to connect it to BSC. If not, no worries, we’ve got your back – we have a guide on How to Use MetaMask. Something you might already be familiar with is MetaMask. In addition to the ones mentioned below, you can also use Math Wallet, Ledger, TokenPocket, Bitkeep, ONTO, Safepal, and Arkane. It’s worth keeping in mind that this isn’t an exhaustive list. The good news is that you have quite a few options to choose from. So let’s dive in.įirst things first, you’ll need a wallet to interact with the applications on BSC. That article can give you a walkthrough of the mechanics of the blockchain, while this one will provide practical information about how to get started. Ranging from token swaps to decentralized money markets and cute NFTs, there are many options to earn yield or simply to have fun.īut what do you need to get started, and how do you do it? We’ll go through it all in this article.įirst, if you’d like to get an overview of the technology behind BSC, check out An Introduction to BNB Smart Chain (BSC). BNB Smart Chain (BSC) has been booming with activity.
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